Do you feel excited? 😅
This is why. It's all down to the chemical reaction in your brain. Dopamine.
Dopamine is a chemical in the brain that makes us feel good.
Should you be feeling excited when trading?🤔
No.🙈 As this isn't gambling and shouldn't give you the same dopamine rushes like a gambling win does.
What's starts as initial excitement will move to fear, anxiety, stress and excitement again. 🤷🏻♂️
You become irrational and unable to stick to your plan.🤯
Entering trades through boredom for the 'rush' and closing profitable trades too early because of fear of the profit disappearing - all because you risked too much for that 'buzz'.
'So what can I do about it?' I hear you shout loudly....📢
Well this depends on if you really want to change or not, the downside is you'll think you will make less money ....
Think about it - you have a £5000 account right?
Option 1 - you trade 15 pairs at 0.5 lot size and your account is up and down like a yo yo - but it's exciting right?
Option 2 - you trade 3 pairs at 0.01 - your account movement is marginal.
Option 2 is less exciting for sure, but if you want excitement go and jump out of plane.
Option 1 will eventually lead to a blown account.
Option 2 will give you sustainable consistent trading - you'll let your winners run and you'll lose less on the losing trades. A win win.
Only when you get this bit right will you start to see positive change.
Emotional control is key
Be present doing other things without checking your phone to see how trades are going.
Exercise patience by sticking to your plan and letting your trades run instead of closing them early.
The only thing you can control in trading is YOU
Just don't end up letting the dopamine take control!
Have a good weekend everyone and thanks for looking
Darren👍
This is why. It's all down to the chemical reaction in your brain. Dopamine.
Dopamine is a chemical in the brain that makes us feel good.
Should you be feeling excited when trading?🤔
No.🙈 As this isn't gambling and shouldn't give you the same dopamine rushes like a gambling win does.
What's starts as initial excitement will move to fear, anxiety, stress and excitement again. 🤷🏻♂️
You become irrational and unable to stick to your plan.🤯
Entering trades through boredom for the 'rush' and closing profitable trades too early because of fear of the profit disappearing - all because you risked too much for that 'buzz'.
'So what can I do about it?' I hear you shout loudly....📢
Well this depends on if you really want to change or not, the downside is you'll think you will make less money ....
Think about it - you have a £5000 account right?
Option 1 - you trade 15 pairs at 0.5 lot size and your account is up and down like a yo yo - but it's exciting right?
Option 2 - you trade 3 pairs at 0.01 - your account movement is marginal.
Option 2 is less exciting for sure, but if you want excitement go and jump out of plane.
Option 1 will eventually lead to a blown account.
Option 2 will give you sustainable consistent trading - you'll let your winners run and you'll lose less on the losing trades. A win win.
Only when you get this bit right will you start to see positive change.
Emotional control is key
Be present doing other things without checking your phone to see how trades are going.
Exercise patience by sticking to your plan and letting your trades run instead of closing them early.
The only thing you can control in trading is YOU
Just don't end up letting the dopamine take control!
Have a good weekend everyone and thanks for looking
Darren👍
